Built To Win

Goldman Sachs shares could rally 25% in the next year as capital markets improve. How Wall Street's leader has stayed on top.

By

Michael Santoli

October 1, 2012

By

Michael Santoli

October 1, 2012

Alone among its peers, Goldman Sachs came through the financial crisis of 2008 intact, while its counterparts on Wall Street were transformed by choice or circumstance.

Lehman Brothers failed. Morgan Stanley has pivoted toward wealth management, its commitment to institutional trading wavering at times. Citigroup has staked its future largely on its international banking franchise. The European universal banks' ambitions have been trimmed by market stress and regulatory aggression. JPMorgan Chase, in many ways Goldman's...